Guideline Value for SARANYA NAGAR

Saranya Nagar guideline value

The current guideline value of Saranya Nagar, located in Melavalam village under the Madurandakam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Saranya Nagar has changed

Over the years, the guideline value for Saranya Nagar has seen several revisions. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged until the 2023 revision, where it continued at Rs 250 per sq.ft. The 2017 revision recorded a lower value of Rs 167 per sq.ft, showing a decrease of 33% from the previous 2012 figure. The 2024 revision has maintained the value at Rs 250 per sq.ft, resulting in no change from the 2023 revision.

In summary, the changes from the 2017 revision to the 2023 revision reflect a 50% increase, while the overall change from the 2012 revision to the 2024 revision shows no increase. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that have a guideline value for 2024, ranging from Rs 200 to Rs 1,000 per sq.ft. The median value for these streets is Rs 350 per sq.ft, indicating that Saranya Nagar's 2024 figure is below this median.

• R. R. Nagar: Rs 200 per sq.ft (2024)
• Ramya Reng & Ramya Ramaa: Rs 200 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• M.S.K. Nagar: Rs 200 per sq.ft (2024)
• Vb Nagar: Rs 200 per sq.ft (2024)
• Venkatesan Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Saranya Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saranya Nagar?

The Saranya Nagar area falls under the jurisdiction of the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Melavalam

The guideline value is a crucial factor in property transactions in Melavalam, as it determines the minimum price at which a property can be registered. When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair and standardized price, preventing undervaluation.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Saranya Nagar?

The current guideline value of Saranya Nagar is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2012 figure at Rs 250 per sq.ft, dropping to Rs 167 per sq.ft in 2017, and returning to Rs 250 per sq.ft in 2023 and 2024.

What is the land classification for Saranya Nagar?

Saranya Nagar is classified as Residential Special Type - I, indicating its use for residential purposes.

Where is the Madurandakam Sub Registrar Office located?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How do stamp duty and registration fees work in Saranya Nagar?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 250 per sq.ft incurs a total fee of Rs 22,500.